Minutes 04/26/1988 - Laserfiche WebLink

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TUESDAY, APRIL 26, 1988 Council acknowledged receipt of a financial report for the period ended March 31, 1988, as prepared by Mr. Richard D. Fitts, Director of Finance; and, in so doing, concurred with Councilman Cole in his request for an itemized listing of General Fund liabilities and reserves. In connection with a report prepared by Mr. John H. Dyches, Director of Water Resources, and pertaining to alternatives and costs by which access to the City Reservoir's recreational facilities can be provided for handicapped persons, Council "tabled" consideration of this matter until after Council completes its work on a City Budget for 1988-89. Meanwhile, Councilman Cole suggested that, inasmuch as this reservoir serves citizens of both Martinsville and Henry County, the Henry County Board of Supervisors be invited to share in the cost of providing access facilities at the reservoir for handicapped persons. City Manager Brown presented a listing of line items which he can reduce or eliminate from his recommended 1988-89 City Budget, including the reduction of $110,000.00 in the City School Board's budget (heretofore described), for a total reduction of $290,675.00 which, with a General Fund surplus of $9,325.00 initially projected at June 30, 1989, should provide a General Fund surplus balance of $300,000.00 at the end of the forthcoming fiscal year. Among these items was $5,000.00 reduction in the amount (from $30,000.00 to $25,000.00) he first recommended as a contribution to the YMCA's proposed new center to be constructed at 3 Starling Avenue, with Mr. Brown emphasizing the benefits to be offered the community by this facility. Mrs. Toy Lacy Cobbe, representing the YMCA's Board of Directors, indicated that the Board will gratefully accept the reduced amount of $25,000.00 if Council will so approve; and, recognizing that